IKEA announces growth in UK sales
IKEA has announced total sales of £2.2bn for the year ending August 2022, marking a 13% increase compared to the previous year.
The retailer says that it has continued to see a strong appetite from customers to invest in homeware post-Pandemic, both in-store and online.
IKEA’s total online sale have grown to 36% compared to 19% pre-Pandemic levels in 2019. However, consumers have increasingly returned to physical stores, with store visitation increasing by 34% compared to last year.
To take advantage of this, IKEA UK opened its first small store in Hammersmith, while also announcing the opening of a store on Oxford Street and new Plan & Order Points in the North West of England (in Aintree, Preston, and Stockport with more to follow).
Peter Jelkeby, country retail manager and chief sustainability officer, IKEA UK, said: “We saw consumers returning to our stores while online sales remained strong with high demand for a convenient shopping experience. To meet these needs, we opened our first small store on the high street, created new ways to meet customers remotely and in-store, and launched new ways to deliver orders.”
“A post-pandemic backdrop of increased living costs, supply chain challenges and macro-economic instability inevitably shaped our business in 2022”, he added.
“In the face of these changes, our long-term vision to create a better everyday life for the many people was our guiding compass for short and long-term decision making, and our results reveal the positive impact of this approach with healthy financial results representing our financial stability and resilience amidst great change.”